OPEC output-freeze deal unlikely as Iran aims to recover lost market share

Posted On 29 Aug 2016

Today’s Press

China’s Yuan Hits Its Weakest Level in Over a Month

Spot yuan opened at an intraday low of 6.6850 per dollar, its weakest level since July 20, hovering around that area in early trade.

OPEC output-freeze deal unlikely as Iran aims to recover lost market share

Iran’s plan to keep boosting crude production until it regains its OPEC market share is dimming prospects of collective action by major producers to freeze output, according to Patrick Allman-Ward, chief executive officer of Dana Gas PJSC.

U.S. Rate Prospects Strengthen Dollar; Stocks Rise

The Dow Jones Industrial Average rose 76 points, or 0.4%, to 18471 shortly after the opening bell. The S&P 500 gained 0.4% and the Nasdaq Composite added 0.2%. Shares in Europe and Asia mostly declined.

Forex Quotes:

USDJPY: 102.25

EURUSD: 1.1171

Indices:

S&P 500: 2,177.80

NASDAQ : 5,233.14

Source:: OPEC output-freeze deal unlikely as Iran aims to recover lost market share

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